Rapidly growing blockchain startup XY Finance has announced that it has closed a $12M funding round led by some of the most prominent venture capital firms in the cryptocurrency space. Led by investors including Circle Internet Financial, LLC, Infinity Ventures Crypto, Mechanism Capital, TRON Foundation, Morningstar Ventures, Yield Guild Games Ventures, Block Capital and Animoca Brands, the full consortium includes more than forty investment firms.
The fund raise also comes as XY Finance is about to conduct its Initial DEX Offering (IDO) on December 9. “XY Finance is excited to acquire significant support from our investors. In the near future, the cross-chain mechanism will be a game-changer of the DeFi ecosystem and GameFi market.” says XY founder Wilson Huang. “Including cross-chain transactions, GameFi, and NFT, what we’re doing will become essential for advanced DeFi users; therefore, we are eyeing more than $1 trillion transaction growth in 2022.”